Banks Starting not to refund dispute charges.

We all know that there are no refunds when you use paypal to buy digital
software, so normally people call their credit cards up to file the dispute.
I bought some crappy bugy ridden software, and I went to the bank and
filed my dispute, then got a letter in the mail saying

"we apologize for any inconvience, but according to govt regulations, your transaction is
not covered under our financial recovery policy...."

WTF? Are they saying my money is no longer protected...It seems like
the banks are becoming like paypal. They are not going to get involved
with non-tangible disputes....

I even told the bank, if you are not going to protect my interests, then
I will take my assets to another bank, maybe even a smaller one
that will be more then happy to protect my interests....

Want to know their reply?

Sorry to see you go, good luck.

Big Business is made up of morons and idiots to let accounts
worth 1000's to walk out the door over money that is not even their own.

I have to give this credit too:

TDBank.com

I just want them to know how they lost my business.

I personally think this is funny as hell that in this economy, big business
is willing to throw their clients right under the bus, and willing too see you go.

So do not think your next dispute will always be covered....
I do not file them often, but when I do, I have cause...

I guess now they can join the team...they can
blame the governement for their loss of business, because
they did mention "due to govt regulations"

 

Filing a dispute costs a bank a LOT. The manpower alone to investigate it almost ALWAYS outweighs the value of the transaction. Typically it will outweigh your contribution to the banks profits, unless you're very well off. So basically, you're the kind of customer they'd rather not have. If you've tried hard to resolve the problem with the merchant directly and gotten nowhere, I sympathise, and can see why you'd file a chargeback, and your bank will no doubt be more sympathetic too if this is pointed out to them. If you've just dived right in though, and opened a dispute with paypal without trying to resolve it with the merchant first, then really, what did you think was going to happen? Going over a merchant's head and opening a dispute / filing a chargeback without trying to resolve it amicably first is the one thing GUARANTEED to get you nothing more than a closed paypal account, an offer to take your bank account elsewhere, and an honorable mention on the various 'banned' lists that exist around the internet. ALWAYS contact the merchant first. It's only polite.

 

Government regulations set minimum standards, I very much doubt they are setting standards that cap the level given.

I am surprised that your protected for debit/ bank payments in the USA; certainly in the UK your only protected for payments made by credit cards and only for transactions between £100 and £30,000 ($150 and $45,000) by law. Some banks do offer greater protection than this but they've no obligation to do so.

 

the bank and paypal has help me alot so you are wrong. because DirecTv tried to screw me

 

Your pain runs deep. Let us help you. Tell us about your childhood.

 

but i dont blame the banks because time are rough. they got to investigate. because people now are just running scams to get money.

 

I do not even think you know what you are talking about by providing inaccurate info.

Anyway, I have had to file a dispute on TCF Bank because a hotel charged an extra fee $150, when I filed
the dispute and asked TCF Bank to obtain "proof of sig" from the merchant, they refused...TCF Bank
threw me under the bus for a merchant they do not even know, much less even do business with.

and they do not care either, I told them if they did not credit my account, then I would pull
my accounts, nope, did not even phase them, not a problem, I closed 2 accounts with TCF Bank.

So whats your excuse with TCF Bank...Think banks still care about their customers?

Was it worth it TCF Bank?

 

Banks aren't the nice institutions some people still think they are. They've always been about money but there used to be a friendly bank manager who knew you personally, who could make decisions, and was respected in the community. Now local branches have managers with no management authority, and call centres where it's all about targets, profitability, no personal relationships, and the bottom line. Banks are money-grubbing in the extreme.

I'd check the terms of your credit card to see what they say. I'd also check any consumer sites just to check what the legal situation is. However, I can't say I'm surprised by what happened to you. Unless you have a significant amount of money in the bank then most banks no longer care about individual customers.

I can tell you how my own bank has changed so much. About 20 years ago when I bought my first PC (a SX25 with 4MB of Ram and a 250MB drive - cutting edge at the time) I needed to borrow the £1300 it cost. I called my bank manager and told him I needed a loan to buy a PC. He asked me how much (£1300) and when I needed it. I said "now" (I was in the shop). He told me to write a cheque, they'd cover it, and send the load paperwork out to me for the loan...excellent service. I was happy and I paid the loan back in 12 months. I've been with the same bank all these years, never had an overdraft, only had 1 personal loan (for the PC), and always have at least 5 figures on deposit over the 3 accounts I hold there. 5 months ago I deposited a cheque to cover a direct debit payment that was coming out the following week. The day before the DD was due to be paid I realized I'd put the cheque into the wrong account and there wouldn't be enough money in the particular account to cover that payment (the cheque was cleared in another account at the branch and funds were available). I called my branch - which no longer has a manager - and they said they couldn't help me and that the DD payment would be refused and I would be charged £35 for it. Then I got a letter from the branch telling me they had refused the DD and I was charged another £35 for the priviledge of being told something I already knew. The fact that I deposited the funds in the bank the day the DD was due (and had plenty of funds in other accounts at the same branch that would cover the DD) didn't matter because the DD's were assigned/paid at midnight. So, 20 years of being a customer, never missed a payment, always had funds on deposit at the branch, and the first time I make a mistake I get charged £70 despite me having enough money other accounts at the same branch. When I complained I was pretty much told "tough". They've lost my business but I don't think they care. That's what you're now dealing with at banks.

 

Its your money and you have the right to do what you want with your money and approach other banks, if you are not treated properly.

 

I have heard a lot of those stories, "I had my credit card for 25 years" and missed one payment, and now I have 30% interest rate.

Credit Cards = Greed
Banks = Greed
Our Govt = Greed and doesnt care

 

Whenever you can't get satisfaction from your bank file a complaint at the state attorney general's office. Also find out where they have their charter and file a complaint there.